Local agencies helped with nearly $226 million in investment

Apr 01, 2015

Private companies invested more than $225 million and created more than 800 new jobs in the Valley last year with the help of regional economic development agencies.
According to data compiled by the Youngstown-Warren Regional Chamber and its economic development partners, 79 projects resulted in $225,888,723 invested, 821 new jobs and another 564 retained jobs. Complete data is available in the 2014 “Valley Economic Update,” an annual economic development report card available on the Regional Chamber’s website.

Private companies invested more than $225 million and created more than 800 new jobs in the Valley last year with the help of regional economic development agencies.

According to data compiled by the Youngstown-Warren Regional Chamber and its economic development partners, 79 projects resulted in $225,888,723 invested, 821 new jobs and another 564 retained jobs. Complete data is available in the 2014 “Valley Economic Update,” an annual economic development report card available on the Regional Chamber’s website.

“The annual ED report card is an excellent piece to inform our residents and partners throughout the region,” said Regional Chamber Vice President of Economic Development, North America Sarah Boyarko.

“It is also a piece we share with the companies we’re working to attract to the Valley,” Boyarko added. “Any company considering an investment is always interested in learning more about the economy and investments made by other firms.”

The Regional Chamber, in partnership with 12 other agencies, compiles data on economic development investment in the Valley. The entities’ combined resources assist companies with infrastructure investment, tax incentives, loans, project coordination, grant oversight, technical advisement, property development and other services.

Each individual agency provides project investment, job creation/retention and notable activity that occurred within their reporting year. The collective efforts of the agencies are screened for duplication and then presented in the report card.

Other highlights in the report include:

$725 million spent on capital improvement projects;

Progress on a $600,000 brownfield assessment grant;

A fifth building on the Youngstown Business Incubator’s technology campus;

The creation of a 10-county export initiative;

Nearly $70 million in transportation and other infrastructure development.

The report also highlights many of the Valley’s 2014 achievements. Among them, the Youngstown Business Incubator was rated the No. 1 university-associated incubator in the world. Other achievements highlighted include:

No. 1 in exports growth, according to Business Facilities magazine;

Top 10 employee-friendly places in the U.S., according to Global Trade magazine;

No. 1 for access to health care, according to the website SmartAsset.com;

Fifth-best area in the U.S. to raise a family, according to Forbes magazine;

10th best in the nation for economic performance, according to the Manhattan Institute.

The Regional Chamber is the lead economic development agency for Trumbull and Mahoning counties. Its partners include the Business Resources Network/OhioMeansJobs, CASTLO Community Improvement Corp., the cities of Warren and Youngstown, the Eastgate Regional Council of Governments, the Ohio Small Business Development Center and International Trade Assistance Center, both housed at Youngstown State University, Mahoning Valley Economic Development Corp., Trumbull County Planning Commission, Warren Redevelopment and Planning Corp., the Western Reserve Port Authority and the Youngstown Business Incubator.